$BTC options flow — 2026-05-26
alpha micro-digest
btc options flow. put/call oi ratio 0.69, put/call volume ratio 0.44. calls dominate both. $79,160 spot. nearest expiry 27may26 max-pain at $76,500. atm iv 29.8%.
dealer hedging flips from gamma long to gamma short if spot drops below $76,500. below that strike, dealers sell into weakness. above it, they buy dips. the max-pain magnet pulls toward $76,500 but call-heavy positioning suggests dealers are already net long gamma from the upside.
canonical cta: more at falsifylab.com
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